EIC Fund and EIB sign investment agreement with Pasqal to back neutral atom quantum computing
- ›The European Innovation Council Fund and the European Investment Bank celebrated an investment agreement with French quantum computing firm Pasqal.
- ›Pasqal, a neutral atom quantum computing company founded on Nobel Prize winning research by Alain Aspect, was part of a financing round that raised €100 million in equity.
- ›The EIC Fund was one of the investors in the round and the ceremony took place at the EIC stand at Hello Tomorrow with senior representatives present.
- ›The EIC Fund positions itself as an agnostic investor supporting deep tech across the EU and associated countries and as the investment arm of the EIC Accelerator blended finance.
EIC Fund and EIB back Pasqal’s neutral atom quantum computing push
Representatives of the European Innovation Council Fund and the European Investment Bank marked an investment agreement with Pasqal, a French company building neutral atom quantum computers. Pasqal says it will use the funding to accelerate development of its platform and expects to demonstrate commercial advantages over classical computing by 2024. The company raised a reported €100 million in equity in the funding round, with the EIC Fund listed among the investors.
The agreement and the ceremony
The investment signature ceremony took place at the EIC stand during the Hello Tomorrow event. Attendees included Pasqal’s CEO Georges Reymond, Jean David Malo from the European Innovation Council, Alessandro Izzo from the European Investment Bank, and EIC Board member Lars Frolund who delivered a welcome speech. The public statement from the EIC highlights Pasqal’s scientific lineage and the firm’s roadmap toward commercial quantum advantage.
| Item | Detail | Source or note |
| Company | Pasqal | French neutral atom quantum computing company |
| Founding science | Founded on Nobel Prize winning research of co-founder Alain Aspect | Company statement |
| Latest funding round | €100 million in equity | Pasqal disclosure; EIC Fund was one investor |
| Ceremony attendees | Georges Reymond, Jean David Malo, Alessandro Izzo, Lars Frolund | EIC press notice |
| Event | Hello Tomorrow conference, EIC stand | Ceremony location |
What the EIC Fund does and why it matters
The EIC Fund is the investment arm of the European Innovation Council Accelerator blended financing model. It is described as technology agnostic and active across EU member states and countries associated to Horizon Europe. The Fund’s stated objectives include filling financing gaps for disruptive technologies, supporting the transition from prototype to market, crowding in private capital and strategic partners, and paying particular attention to female founders and to reducing the innovation divide among EU regions.
The EIC Fund’s public role places it at the intersection between public policy goals and private capital. By co-investing, the Fund seeks to leverage its position to attract additional private investment. That effect depends on market confidence and on demonstrable technical milestones from portfolio companies. Public investment can catalyse private flows but it also raises questions about valuation, exit pathways and long term returns for taxpayers, which require transparent governance and rigorous monitoring.
A cautious view on claims and timelines
Pasqal’s statement that its neutral atom platform will deliver major commercial advantages over classical computers by 2024 should be read as the company’s expectation rather than a settled industry fact. Quantum computing is a rapidly evolving field with many plausible technical routes. Timelines for demonstrating quantum advantage for specific, practical use cases are uncertain and depend on both hardware progress and development of algorithms and integration into industry workflows. Investors and public backers often accept some degree of risk when supporting frontier technology, but realistic milestones and transparent reporting will be important for assessing progress.
Implications for the European quantum ecosystem
The involvement of the EIC Fund and the EIB in Pasqal’s fundraising underlines a broader EU strategy to support deep tech companies that could drive industrial competitiveness. European policy aims to build capacity in strategic areas such as quantum computing through grants, equity instruments and ecosystem support. Public co-investment can help firms scale and attract international partners, but it is not a guarantee of commercial success. The quantum sector remains globally competitive with strong activity in the United States, China and other regions. Europe’s approach is to combine research excellence, public risk sharing and efforts to develop venture capital markets that are willing to finance growth stages.
For observers and potential customers of quantum technology, the immediate signal is that Pasqal has secured significant capital and institutional backing. For policymakers and investors the test will be measurable technical and commercial milestones, credible paths to market for target applications, and the ability of the company and its partners to attract follow-on private capital without relying indefinitely on public support.
What to watch next
Follow-up indicators to monitor include Pasqal’s published technical benchmarks, demonstration of application-level advantage on well defined problems, deployment of error mitigation or error correction strategies, and any subsequent funding rounds that reveal private investor appetite and valuation trends. On the policy side, tracking how the EIC Fund reports co-investment leverage and outcomes will help evaluate whether the blended finance model is delivering broader industrial and economic objectives.
The signature ceremony is a concrete step in a longer development process. It highlights the role of European public investors in seeding deep tech ambitions, and it reinforces the need for sober assessment of technical progress and responsible stewardship of public funds as quantum technologies move from laboratory curiosity toward potential commercial tools.